Calix (NYSE:CALX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Calix (NYSE:CALX) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. The firm currently has $7.50 price objective on the communications equipment provider’s stock.

According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “

Separately, Northland Securities reiterated a buy rating and issued a $8.50 target price on shares of Calix in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $8.00.

Shares of NYSE CALX traded up $0.10 during mid-day trading on Wednesday, reaching $6.86. The company’s stock had a trading volume of 11,631 shares, compared to its average volume of 181,004. The stock has a 50-day moving average of $6.26 and a two-hundred day moving average of $6.52. The stock has a market capitalization of $364.24 million, a P/E ratio of -20.73 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 1.15. Calix has a 1-year low of $5.60 and a 1-year high of $11.30.

Calix (NYSE:CALX) last issued its earnings results on Tuesday, July 23rd. The communications equipment provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. The business had revenue of $100.30 million during the quarter, compared to analysts’ expectations of $99.95 million. Calix had a negative net margin of 4.66% and a negative return on equity of 8.70%. Analysts predict that Calix will post -0.13 EPS for the current fiscal year.

In other Calix news, Director J Daniel Plants acquired 29,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $5.89 per share, with a total value of $173,755.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald J. Listwin acquired 19,180 shares of the stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $6.40 per share, with a total value of $122,752.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 94,478 shares of company stock valued at $567,898. 18.57% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in shares of Calix in the second quarter valued at approximately $25,000. Horrell Capital Management Inc. lifted its stake in Calix by 25.0% in the second quarter. Horrell Capital Management Inc. now owns 600,100 shares of the communications equipment provider’s stock worth $3,937,000 after acquiring an additional 120,100 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Calix in the second quarter worth approximately $205,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Calix by 20.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 132,475 shares of the communications equipment provider’s stock worth $869,000 after acquiring an additional 22,150 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its stake in Calix by 178.2% in the second quarter. Heartland Advisors Inc. now owns 603,200 shares of the communications equipment provider’s stock worth $3,957,000 after acquiring an additional 386,400 shares during the last quarter. 66.26% of the stock is owned by institutional investors and hedge funds.

Calix Company Profile

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, systems and services required to deliver the unified access network. The company's cloud and software platforms, systems, and services enable communication service providers (CSP) to provide a range of services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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